Wildhorse Co. invested $1,100,000 in Sheffield Co. for 25% of its outstanding stock. Sheffield Co. pays out 30% of net income in dividends each year. Use the information in the following T-account for the investment in Sheffield to answer the following questions.

Investment in Sheffield Co.
1,100,000
108,000
	32,400

(a) How much was Wildhorse Co.s share of Sheffield Co.s net income for the year?

Net income

$enter Wildhorses net income in dollars

(b) What was Sheffield Co.s total net income for the year?

Total net income

$enter the total net income of SheffieldCo. for the year

(c) What was Sheffield Co.s total dividends for the year?

Total Dividends

$enter the total dividends of SheffieldCo. for the year

(d) How much was Wildhorse Co.s share of Sheffield Co.s dividends for the year?

Dividends

$enter the dollar amount of dividends for Wildhorse Co.